June 17, 2016
The following can be attributed to Todd Staples, president of the Texas Oil & Gas Association, in response to today’s Texas Supreme Court ruling in the Southwest Royalties case.
“We are disappointed in the Court’s decision. It is undeniable that oil and natural gas exploration and production today is more and more a manufacturing process. For a healthy oil and natural gas industry, our operators, who compete globally, need equitable tax treatment. We look forward to an ongoing discussion on the best overall tax policy to bring jobs and investment to Texas and to enhance our state’s economic competitiveness.”